Indian neo-bank startup Niyo raises $30 million in funding

Oluwajuwonlo Afolabi -

Niyo, an India-based neo-bank startup providing financial services has raised $30 million in its new funding round from Multiples Alternate Asset Management, a private equity firm.

  • The fund will be invested in improving its products, increasing its user base, hiring new talents, and advancing its brands.
  • Niyo offers digital banking including savings accounts and other banking services in partnerships with banks.
  • It currently services over 4 million users across digital banking and wealth management in India.
  • It has raised $165 million in total since its launch.